RT @MakerDAO: UPDATE ON MULTI-COLLATERAL DAI:
The code is ready and formally verified. The first time ever a major dapp has been formally verified.
Learn more: https://t.co/I9hkGH5A8v #FormalVerification #DAI $DAI $MKR #MKR

RT @MakerDAO: UPDATE ON MULTI-COLLATERAL DAI:
The code is ready and formally verified. The first time ever a major dapp has been formally verified.
Learn more: https://t.co/I9hkGH5A8v #FormalVerification #DAI $DAI $MKR #MKR

RT @MakerDAO: UPDATE ON MULTI-COLLATERAL DAI:
The code is ready and formally verified. The first time ever a major dapp has been formally verified.
Learn more: https://t.co/I9hkGH5A8v #FormalVerification #DAI $DAI $MKR #MKR

RT @MakerDAO: UPDATE ON MULTI-COLLATERAL DAI:
The code is ready and formally verified. The first time ever a major dapp has been formally verified.
Learn more: https://t.co/I9hkGH5A8v #FormalVerification #DAI $DAI $MKR #MKR

it'd be awesome if that post had a single paragraph explaining what a "Multi-Collateral Dai" is, why it exists, what problem it solves. so much tech to keep track of.

can't find what a DAI is, except a coin on coinmarketcap that claims to be a "Stable coin", not sure what the acronym means, "Decentralized Automatic Issuance"? If that's the case I understand that a multi-collateral dai is backed by multiple coins?

DAI is always backed by something with value. This is so that it's not possible to create DAI out of thin air. Right now, if you want to create $100 worth of DAI, you have to deposit at least $150 worth of Ether. And you can't use that Ether unless you destroy the $100 DAIs. The Ether is locked. This locked up Ether is called the collateral. Right now, DAI can only be created with Ether as the collateral. With multi-collateral DAI other coins can also be used as collateral.

what do you think about a one way burn of Ether (or Bitcoin) and during a window of time that takes into consideration the weighted market price of the token units are minted.
e.g. If you burn the equivalent of USD $100 in Ether at the current weighted price for the next 5 minutes, once the transaction is confirmed you'll have 100 units of that ERC20 token, and you then transact in those tokens. If you want to convert back to Ether, you just sell those in a market or swap them with another party. Ideally this last part shouldn't be necessary, you would just save them, or spend them elsewhere. If you need more of such USD pegged token and you have crypto, you burn it and you'll have it on the next block your burn makes it to the blockchain.

What happens if there's issue with one of the tokens used as collateral? Say due to bug somone finds way to produce large amount from thin air and decides to dump it into DAI contract instead of exchange?

There are two options. Guardians (elected by MKR holders) can trigger a global settlement or if if the bug is limited to a particular token they can freeze a price feed for a specific asset which pauses all loans and repayments for a particular collateral asset type. Note that the OSM (Oracle security module) has a delay of 1 hour before a price takes effect so an Oracle (price feed) attack can be stopped before it even takes effect.
However through the use of formal verification of every token added we try to combat this before a token even becomes supported collateral.

No, more MKR is minted if the CDPs go bust and the remaining collateral cannot be sold in time to cover the outstanding DAI. This is the risk MKR holders bear. - that why they get paid the stability fee.

I don't think there's need to participate to gain some reward, I don't like being forced to vote when the vote is already going "my way" since it's a hassle really with the current systems.
I think mkr holders will be very careful with their votes from the very start as no one wants to see inflation happen.

Every single ERC20 token will be up for consideration. The qualitative assessment will decide whether the token itself is legit or not. The quantitative assessment will decide on risk parameters like the total amount of DAI that can be borrowed with the token as collateral. The governance risk framework post outlines what sort of data MKR holders will evaluate to arrive at the risk parameters.
https://medium.com/makerdao/makerdao-governance-risk-framework-fc8939f3d4e9

Much gratitude and respect to Rune and the Team, I salute you all as I do the multitude of devs who are quietly building the future. No hype, no noise, no fanfare. 2018 is still not done and will be ETH's year